Why Major in Economics?
Economics is a versatile major that develops your analytical and quantitative abilities while learning about how the economy functions and how individuals relate to one another. A degree in economics is an excellent way to prepare yourself for a wide range of career options. It offers a unique way of thinking about the world and focuses on critical thinking and quantitative skills. Most of all, economics is fun!
Broadly speaking, economics is the study of how individuals and societies choose to employ scarce resources. We as individuals have unlimited wants and have limited resources, even the richest of men and women have a scarcity of time. With this basic principle, we start from the understanding that all decisions have trade offs, or opportunity costs. It is not simply the study of money, as is sometimes thought. Every decision you make in your everyday life, big or small, is an economic decision. The study of economics offers insights on everything from how much to save this month, how much you should exercise, and who to choose as a mate. Economics is truly everywhere.
Economics Degree Options
Ultimately, both degrees prepare you for a career in economics and expose you to the same concepts and ideas although each allows for different focus. Recommended double major or minor areas to accompany either economics degrees include actuarial science, mathematics, statistics, computer science, a foreign language, and the other disciplines within the College of Business Administration.
To learn more about the differences between the two degrees or for specific curriculum questions, please contact Dr. Hoontaek Seo.